Settle the car loan with your travel budget.
Insurance can terminate it, then rm150 extra can put in EPF. In case of sick, can always use government's service.
And most of the time, sickness is collect by your self, by having a bad lifestyle.
Phone bill still can do better, mine are only rm10-15 a month.
My name currently only registered 1 car loan.

Why I terminate it? Because a simple word : they are cheating. Case closed.

I usually won't waste time now to any of the insurance agent.

This post has been edited by supersound: Sep 17 2014, 02:32 PM

All the loans you never mention monthly payment.
With that extra rm1-1.2k savings, I'll settle PTPTN loan first, follow by ASB loan, last your housing loan.
When you are 0 loan, then you will have more savings and you will know better where your money is going.

Just another question, what is the total %(rm1568) from your net income?
As far as possible, don't use EPF's money but settle either ASB or housing first, after PTPTN. Astro I will cut also, Streamyx/Unifi will be better.
Again, is depending to your life style.

Wow, you really have a good life style(enjoy then suffer), 27 years old only but already having bad debts of >rm100k
I'm fat, but I never go to gym. I believe licking a MP's leg, I can get free medical coverage. So I never buy any insurance. rm360 on the spot in hand for use.
With rm360 extra, can use it to settle you CC debt, ASAP.
RHB loan you can pay rm1050, balance rm50 use it to pay other CC's debt.
18% of interest are not a joke.

My answer still the same : 0 loan and debts.
Why I want to gain 2% of interest from my saving where in the first place I can get 7%?
I guess you are a Malay, right? Sometimes I really envy Malays, as they have better investment return package compare to Indian or Chinese

Some of them already reaching the limit
With his case, it won't be easy to convert, since for bank it is considered high risk(by rejecting they get 18% PA of interest).
Rely on BT won't really solve the root cause. The best way is look for family members to borrow a lump sum of money to settle those bad debts.

Have to change lifestyle, that's the only way.
Have to check where can reduce, like our friend is fat, he can always take oats at night. rm13.50 of oat can last for 10-20 days.

Poor management only I can say

Not easy to work it out, talk is easy

I got no interest to know

That's 2 years back only 4+ people go bankrupt and now >68 a day.
I have a friend also the same, borrow here borrow there but don't want to change his lifestyle.

What type of "bargaining power" that the joker said? You can buy a subsale house that original price was rm300k but just a flip and selling for rm600k and yet you still can get 100%?
Credit rating no need to be recorded by credit card. By your bank account, EPF account also can tell how good you are. I already 2 years never take loan and yet I still can get it approved within few days.

I won't say that is a guru, more like a drug dealer pushing some drugs.

My mother never take a single housing loan from she start work till 56 years old. Her income only rm2000-3000, but yet she is still getting her rm70000 for 15 years loan approved. As it is below rm100k, the interest rate are higher, from OCBC.
As said, bank won't really bother much on with clean record or not as that is just a small factor, bigger factor is your job nature and your EA/EPF.
That joker sure work for someone, if not bank then either can be property agent or any so-call financial expert that are here to mislead people on simply investing something.
BTW, once you have credit card already, you may not able to do what you are doing now. As you tends to spend more.

This post has been edited by supersound: Oct 14 2014, 01:20 PM

Own self do the maths, very simple. Make sure you have rm1000 that can be saved in FD. So, net income - rm1000, balance of the money only can use 30% to serve a loan.
Also, have to consider BLR at 10%'s impact.

[quote=Bonescythe,Oct 25 2014, 10:19 AM]
[quote=supersound,Oct 13 2014, 05:56 PM]
I won't say that is a guru, more like a drug dealer pushing some drugs.


Actually his advice is right, get a credit card to show some repayment behaviour/record for the bank before you commit to a larger loan.

Basically, once you got a credit card, your ccris record will have your credit card limit amd usage and repayment behavior.

if one would delay his card payment, eg got 2 or 3 appearing, chances of getting his loan for mortgages or car will be tough.

however, if a person does not have any ccris record, it does not mean that you won't be able to get loan. You will still be able to get, however, your record might not allow you to huge commitment or a better margin or a better rate.

Different bank got different criteria. Example of one of my previous client, although working in a listed company, at age 28, without any ccris record, hong leong bank approve a margin of 80% instead of 90% for his financing.

it is good to have credit card. Credit card doesn't mean many debts, it is ur own hand that determine whether you want to simply use or not and create unnecessary debts.

For fresh graduate working in MNC or listed company, your loan application might have a better chance, you cannuse apply loan using 3 mth payslip.

however, for small timer unknown sdn bhd or enterprise, you will need to provide payslip, bank statement, epf, ea form, income tax for a better chances of approval

[/quote]
Let's see, I want to take a rm1M loan but my annual income only rm75000, I have very good credit card payment. Can I still able to get rm1M loan?

I just want to point out that having good credit card payment means nothing, own annual income, total savings are more important
With rm75k of annual income, after deducting everything(income tax, EPF, SOCSO), net will be only rm60000 the most.
Before serving any loan, daily expenses and sudden death spending also need to consider first, so balance will be at rm2500 or even lesser if work in KL. Can still simply take loan?

Without a credit card, best method is from the saving's amount
But again there's no right or wrong on this, is matter how the bloody officer rates it.